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Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) has surpassed the $50,000 mark for the first time since December 2021 on its way to an all-time-high. Following the bullish sentiment, the broader crypto market surged as well.&nbsp; 
Bitcoin is up by 3.9% in the past 24 hours and is trading at $50,050 at the time of writing. The flagship crypto asset’s market cap is getting close to the $1 trillion mark — currently standing at $982 billion.&nbsp; 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/02/Bitcoin-BTC-11.38.09-13-Feb-2024-1024x347.png" alt="Bitcoin surpasses the $50k mark, positive sentiment growing - 27" class="wp-image-14247787">
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 BTC price, whale activity, open interest, funding rate, and RSI – Feb. 13 | Source: Santiment
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The daily trading volume of BTC also surged by 105%, reaching $39 billion.&nbsp; 
 You might also like: <a href="https://crypto.news/chainlink-whales-enter-130m-profit-taking-spree-will-link-price-react/"> Chainlink whales enter $130m profit-taking spree; will LINK price react? </a> 
Following Bitcoin’s price rally, the global crypto market cap <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener">increased</a> by 4.2% and currently hovering around $1.96 trillion, according to CoinGecko. Notably, Bitcoin’s dominance declined from 52% to 50% over the past day, per the price aggregator.&nbsp; 
According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC increased from 7,510 to 12,206 unique daily transactions over the past 24 hours.&nbsp; 
When an asset’s whale activity suddenly rises, high volatility is usually expected.&nbsp; 
Santiment data shows that Bitcoin’s Relative Strength Index (RSI) is currently hovering around 84. The indicator suggests that the BTC price could soon face rejection and a decline below the $50,000 mark is very likely. 
For Bitcoin to stay in the bullish zone, its RSI would need to cool down below the 65 mark at least.&nbsp; 
According to the market intelligence platform, the Bitcoin total open interest (OI) surged from $9.3 billion to $9.8 billion in the past 24 hours. Moreover, the total funding rate aggregated by BTC is currently standing at 0.01%, suggesting that long-position holders are slightly dominating short traders until further price movements. 
Furthermore, a recent report revealed that spot BTC ETFs <a href="https://crypto.news/bitcoin-50000-etf-net-assets/">accumulated over $2.8 billion</a> in net assets despite Grayscale’s large withdrawals.&nbsp; 
Santiment data shows that 53% of the conversations on social media show positive sentiment toward <a href="https://crypto.news/anthony-pompliano-bitcoin-etf-purchases-exceed-daily-production-by-12-5-times/">Bitcoin</a> while nearly 40% are pessimistic despite the bullish momentum.&nbsp; 
 Read more: <a href="https://crypto.news/digital-currency-group-records-59-rise-in-revenues-despite-legal-troubles/"> Digital Currency Group records 59% rise in revenues despite legal troubles </a>

Bitcoin surpasses the $50k mark, positive sentiment growing

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